Aug 10
2012
ServiceNow
1. ServiceNow, Inc. reported a net loss of $14.4 million for the six months ended June 30, 2012, reflecting increased investments in service development, infrastructure, and sal...
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1. ServiceNow, Inc. reported a net loss of $14.4 million for the six months ended June 30, 2012, reflecting increased investments in service development, infrastructure, and sales operations.
2. ServiceNow, Inc. closed its initial public offering on July 5, 2012, issuing 10,350,000 shares of common stock with net proceeds of approximately $173.3 million.
3. ServiceNow has transitioned to a co-location hosting model for its cloud infrastructure, which is expected to negatively impact near-term cash flow but improve margins long-term.
4. The IPO proceeds are intended to be used for expanding data centers and office facilities, with potential future acquisitions, although no specific commitments exist at this time.
5. ServiceNow has been expanding its operations aggressively, increasing employee headcount and expanding office space, which contributed to its widening net loss in the reported period.